Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share

For the Three and Six Months Ended June 30, 2007 and 2006

(Amounts in thousands, except per share data)

	Three Months Ended June 30,				Six Months Ended June 30,
	2007		2006		2007		2006
Basic - assumes no dilution:
Net income for the period	$	23,166	$	27,500	$	46,434	$	50,746
Weighted average number of common shares outstanding during the period		43,223		42,999		43,170		42,993
Net income per share – basic	$	0.54	$	0.64	$	1.08	$	1.18
Diluted - assumes full dilution:
Net income for the period	$	23,166	$	27,500	$	46,434	$	50,746
Interest expense, net of tax, on dilutive Senior Convertible Notes		92		272		279		949
Adjusted net income for the period	$	23,258	$	27,772	$	46,713	$	51,695
Weighted average number of common shares outstanding during the period		43,223		42,999		43,170		42,993
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		352		59		293		100
Common stock units related to Deferred Equity Compensation Plan for Directors		217		214		217		214
Common stock units related to Deferred Compensation Plan for Employees		217		148		217		148
Restricted common stock units related to Incentive Compensation Plan		340		254		340		254
Weighted average number of common equivalent shares to reflect the dilutive effect of Senior Convertible Notes		575		1,576		895		2,823
Total common and common equivalent shares adjusted to calculate diluted earnings per share		44,924		45,250		45,132		46,532
Net income per share – diluted	$	0.52	$	0.61	$	1.04	$	1.11